Editor's letter - May 2015
“At a time of 0% inflation how is an 8.4% rise justified? Are you 8.4% more in need of regulation than you were this time last year?”
The Financial Conduct Authority’s Business Plan 2015/16 came with a consultation that has a sting in the tail for brokers. The final details are yet to be confirmed but in essence the regulator is looking for an 8.4% rise in its annual funding requirement. This will take the watchdog’s total up to £481.6m.
As part of the announcement the FCA highlighted that 38% of regulated firms will continue to pay the minimum fee which will increase to £1,084 from £1,000.
For the sake of balance it is the
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